Anhui Conch Cement reports 76% surge in 2010 net profit

Byswb

Updated Fri, 01 Apr 2011 00:00:00 GMT

Anhui Conch Cement Co Ltd, the biggest cement producer in Asia by output, announced that its net profit surged 74.12% year on year to RMB 6.17 billion in 2010, driven by increases in both cement prices and sales volume.

Earnings per share were RMB 1.75, up 74.12% year on year, and the firm declared a cash dividend of RMB 3 per ten shares and a share dividend of five new shares for ten existing shares.

Operating revenue grew 38.04% year on year to RMB 34.51 billion in 2010.

Last year, Anhui Conch Cement sold 137 million metric tons of cement and clinker, 15.89% more than in the previous year.

In 2010, the company added 25.2 million metric tons of clinker capacity and 40.1 million metric tons of cement capacity. By the end of last year, the company's clinker capacity had reached 130 million metric tons and cement capacity had hit 150 million metric tons.